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Monday, December 14, 2009

12:00 PSTThe SPX chart shows a new downward fork for the Bulls to trample.Ichimoku has been bullish and except for some waffling it remains bullish as does MoneySpy. The bears will have to get below support and this weak spot may be the chance. If this happens it will also be a breach of the upward forks.

But this juncture it looks like the Bulls need to take it up a notch, or loose the control they have established. Since it would not take much for the bears to push these indicators negative it's getting a bit risky for both sides and the stakes are continuing to grow as the Daily Squeeze (not shown) continues to point toward higher volatility.

Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.